Well for durability, the steel backets are the best. They don't explode and take out the cases, and the clutch plates don't groove them up so bad that they need to be replaced.
The reason we do billet backets for the busa,GSXR1000s, old GS Suzukis, etc is because the oem baskets are a casting and can come apart under load. The old KZ Kawasaki with a steel basket is the strongest out there. OEM aluminum baskets have even been replaced with Kaw steel backets for racing.
Never heard of anyone wanting to go the other direction.
The billet aluminum basket would have to be of a thicker cross section to get the strength needed. I really doubt there would be much of a weight savings when you were all done,
Jay